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Ponzi
Geez you finally get it...it's a mute point one way or the other because of Nigeria's Sovereignty.IF the USA SEC wants to meddle with Nigeria,they tell.. them to take a hike...I kinda Admire that in them!....and they sure are giving SHELL a hard time as well.Heck they OWN the Resources.
Now go away the riddle after all these years is solved and we owe it all to you.
glad you invested here
good luck
baz
Mid:
I know that has been your position and,I agree.I think our Pon-Zi
is not familiar with Nigeria as he has been way too busy over the last 10 yrs pulling SEC filings out from where the moon don't shine.
This subject,like most others here that are not up to date,have been beaten to death...thank you Mongo.
Time to move on
Great FIND Farrel!!
Baz
the Local Content Vehicles (LCVs) were open to all Nigerian entities, which, after pre-qualification, were publicly to be paraded to qualified bidders on the floor of the bid exercise, to be picked by the winning entities. In the 2006 Mini Round, the bidders were advised in the Guidelines to present their own Local Content Partner.
In the 2007 Bid Round, prospective LCVs were encouraged to source for potential partners on their own, individually or in consorcia. This was a process of progressive disengagement of the official structuring, which was tried out in the 2005 first bid round
roles played by the actors of the time, those who superintended these agencies of government under the Olusegun Obasanjo administration were invited to assist.
His Royal Majesty, King (Dr) Edmund Maduabebe Daukoru, CON, Mingi XII, Amanyanabo of grand Nembe Kingdom in Bayelsa State and former president of OPEC got a questionnaire. His response is captured and transcribed by Hector Igbikiowubo of the Vanguard newspapers.
Baz
http://allafrica.com/stories/200901130230.html
Ponzi
It is the Boss's right to Bid with another company who,no less, are a local vehicle company (LVC), which as we all know is a big Nigerian initiative.The Govt. of NIGERIA, sought to award Starcrest the winning bid along with it's chinese partner (CNCP).
I think it was a smart move by SEO to Ally Starcrest with Addax After the bidding round and the chinese company pulled out.I think it was wise of Seo to remove any SEC scrutiny from "this deal" as it would have looked very bad for ERHC getting this winning bid as they were already under SEC scrutiny from the raid on their company and office while Walter Brandhubber was CEO of ERHC energy.(remember)? Mongo was there to play that up!
Also the JDZ and its awards ARE NOT the same as the NIGERIAN awards...they have different governing bodies....YADA YADA YADA
Bottom line without all the Goblygook....
Its none of the SEC's business how a Nigerian business runs itself as a local vehicle that is backed by it's own govt. initiatives.If you dont understand that then I guess we will still hear this (IMO) garbage from your posts.
Glad you are investing here with us.
Baz
Ponzi
Starcrest is a Nigerian company and SEO is Boss of all his companies.Since Starcrest was the bidder for the Block and ERHC was not involved at all for reasons we might assume..like not enough money..since they have to mind their burn rate.ETC.
1 major project is enough for this assortment of keystone cops SEO has running it.Ponzi please dont forget that all chrome companies pay SEO's wages and expenses etc.
Since what starcrest is about is (LOL) much more diverse than ERHC's oil investment caretaker company.
Maybe ERHC was never supposed to be a real company but always on sale for XXXXX amount.
Where as Starcrest NIGERIA...wont Garner the scrutiny of the Regulators ...they were more likely to end up a real Subsiduary of Chromes ...THEN,whenever, ERHC is striken off the roster of Chome companies...
ALL IMHO...
see the difference in company bios
Baz
Starcrest Nigeria is a rising star in the natural resources sector in West Africa, and is a Member of the Chrome Group of Companies. We aim to become a premier player in the development and production of both renewable and non-renewable energy resources. Our company possesses diversified commercial interests in both oil and gas exploration and production; in bioethanol production (derived from ethanol); and also in oil palm plantations. Our goal is to develop long-term capacity in energy exploration and production in Nigeria, while sustaining long-term growth in our various business divisions.
The renewable energy resources division presents interesting challenge. With rising global concern about climate change and high international oil prices, biofuels are emerging as an important alternate fuel. With large endowments of arable land, water resources and labor, Africa will emerge as an important contributor in addressing these global problems. Starcrest welcomes this challenge in developing renewable energy resources in Nigeria
Learn more at : www.starcrestnigeria.com
Ponzi/Mongo
Chrome group can have many subsiduaries.Starcrest,even though I would Rather ERHC get that Valuable Block,is not part of ERH, but part of the Chrome conglomerate...is there anything wrong with this?
Baz
Krom
Lets not forget that we were told way back when that the ERHC FAMILY was looking to soon announce a new CEO....that gig ran for how many years?
Reality appears to point to more activity than ever before, but,if we are only an oil investment company then are we being repainted, buffed up and ready for display soon?
This little old relic soon to be priced and put on auction..IMHO.
Let's start the bidding***********************!
Baz
P.S. or maybe we evolve?
it's certainly not in the best interest of SEO & Friends for ERHC to be plundered into going concern status.
baz
Tryoty:IMHO
it wouldn't sound right the other way.
Reports directly to ERHC president/CEO.
It wasn't written in point form.The whole deal is the "FLUB" in the release...Or was it Genius, Krom?
who knows maybe it was info leaked to the shareholders and who ever else has RSS feed alerts.
There seems to be activity that we are seeing..hope it all turns out swell!
GLTUA
Baz
Buffalo
I hear you loud and clear...just IMHO a slight correction.If HDY finds or/ONLY REPORTS GAS FOUND. We cant surely accept that in ERHC's 4 wells that ONLY BIOGENIC GAS was found, in "at least" 3 wells.The extention by SNP was for more studies regarding how to move toward phase 11.Lots of Contemplatin goin on about Bio Gas and maybe Talapia oil!.Then there's ToTal and all their desire for fish oils,but I thought red wine was enough for the heart.They must want to cozy up to Sao Tome because Swiss chocolate is too costly.
IMHO...the silence is saying that there are strategic activities afoot.If SNP/Addax was not excited about the phase 1, and talking about poor prospectivity,then I would be swayed towards that line of thinking,but then, SNP's web site wouldn't state the opposite as in Bomu 1: hydrocarbons have commercial flows.
7th inning stretch
lots of speculating
GLTUA
Baz
Middy you could be right...I'm hoping to hear some news regarding Angola and STP....this is all in my head so far...LOL
maybe if I turn to the right and spin the old tin foil antenna.
Baz-staring at tea leaves
Middy
hahahahahhhahahaha...in a nut(shell).
good one!!!
Good things will ensue for all our time spent with this energy investment company we call ERHC energy...lord give us more!!
Baz
OT:slightly
this post is not to promote another company BUT to show both,what we are waiting for with the CPR/NSAI resource estimate report,and to show also that it is on their website and NOT HIDDEN from it's shareholsers.It is easily understandable and shows vertical falt lines and traps and where the drillings were(off the centre of gas cap...they found oil leg).
This is what I want, to see Reports...something I can chew on with ERHC.I know the info is ready for consumption(IMHO we have the goods).When will they be put out on the shelves ?.Will it be in the organic section?..IMHO ..no.
GLTUA
Baz
P.S. BB-this will be extra reading for you while you recoupe.
http://www.gulfkeystone.com/uploads/dgafinaldiscoveryreportshaikan-1130110.pdf
Balance we will be sending you all of our positive healing energy.
Bazilfawlty
Nov 1-5 Cape-Town South africa
17th Africa oil week begins and Luis Prazeres(STP) will be speaking there.
Luis Prazeres
Executive Director, National Petroleum Agency, (ANP-STP)
http://www.petro21.com/events/?id=495
Southern man
All IMHO:Again,we here the "at least".....seems to be on again off again,with suspect info from whom ever.
I hope Nsai reports are out soon,as maybe then something semi-concrete will be known....good or bad!
Even though we know,prelim numbers are usually less in first phase of exploration,but,if it is deemed similar to Akpo then commerciality is likely:ie. Akpo is just 1 example...but ...there is closeology working here.
France is circling the GOG waters heavily(possibly riding some Chinese support).Sao Tome is requesting Angola to be involved with all aspects of their economy it seems.Angola (even though it has had a communist leaning via Russia)seems happy to work with China within it's borders.
"Business friendly" ties are being built.
I worry more about our company and it's actions/inactions,than the prospect of there being Commercial Value in the JDZ and EEZ.
Most oil DD I have done indicates the proven geology in eastern South America (offshore), to be similar in Geology to West Africa(offshore),down south to Namibia's Walvis ridge.
Still here still holding
Baz
On October 12, 2009, Kosmos said it agreed to sell its Ghanaian assets, including the Jubilee stake, to Irving, Texas-Based Exxon for $3.8 billion, plus another $700 million to finance drilling. Kosmos also owns stakes in the Mahogany Deep, Odum, Tweneboa and
Teak prospects offshore Ghana.
Sounds like the Ghanaian Govt. wants all Kosmos's properties in Ghana not the whole company.
cheers
http://business.peacefmonline.com/news/201010/97097.php
Peter Ntephe, CEO of ERHC, said: "To date, there has been a tremendous amount of work carried out to update volumetrics of the resources, analyze geochemical samples, interpret sample analysis and reevaluate play concepts, but more time is required to conclude the study program. ERHC acknowledges the commitment and efforts of the Operator as well as the continued support and cooperation of the JDA."
Ya Right all this for BIOGENIC GAS!!!!
It's what they are not communicating with uneasy shareholders that maddens the crowd.
I guess "THEY" think that inserting this verbage every now and then is to replace communication with shareholders?
Good thing I can recognize more to this than just Biogenic gas.
GLTA
Baz
Condor...Seek...etc.
It takes 2 for a conversation ....responding is enabling ....
this is not a reflection on midtier,but rather, another way to STOP this -all plugging up the board- making it hard to garner ANY info as the numbers of posts,do not represent their usefulness.
Ala Umbra....including this post!..lol
To be fair Mid has shared his opinions with the board and his actions will likely progress by the showing of his support by others.
GLTUA....we need more strenght and Patience.
IMHO..periphery evidence of the prospectivity surrounding Sao Tome...JDZ...bolsters my DD and allows me to relax every now and then.
Baz
kownski
where has Jr. been? LOL
Baz
Kownski
Maybe someone could do an overlay of bomu 1 and,for fun, see where that fits....passing time while looking for any bits of info.
By my eye,Bomu structure does line up along the "fold lines"with Akpo... as do the other discoveries to the NNW, align with their associated Lines, so your theory has weight ...in my eyes...but WTFDIK
Baz
Mid
I guess no one except this board reads SNP's web site(OR BELIEVES IT)...lol.
I think we might assume from SNP's article that indeed there was commercial flow rates of hydrocarbon from BOMU 1.
I guess that news was worth $.22 to R&R or their clients.Strange price for 22% of block 2 with first wildcat well showing commercial flows as per the Operatorof the block.
I'm holding here but will support the stock if it drops into the teens.
Baz
stocks
maybe thats why Chevy drilled "off structure" so to speak.It was reported that they would understand better the geology of the OBO structure than by entering the top...Now we see why! SNP in comparrison would most likely get less info drilling through the Caps. WHY?
Was Addax not a reliable operator and took the easy path to make all their commitments,and forgo their opportunity for best info at the drill bit?
IMHO..SNP Via Addax could have kept the Drill ship on each well longer and still made their commitments,so they could have drilled more strategicaly.All companies if needing more time with drill ships,extend their times,as needed...contracts get pushed back all the time.
What was the reasoning ...any OIL people care to comment?
Baz
TOB
You might be right,but,it then shows how clueless the management is,and/or,the ineptitude of their abilities OIL-WISE,to part with shares at this time when earlier ,not so long ago, we were near $.40 .
Argue as you like (most here would agree i'm sure IMO),but our lack of OIL skills is hurting us at every corner.Either we sell out OR we should invest in our own company and start hiring Quality OIl people who can Protect the company from it's own naivety.We dont see this happening and it doesn't seem to be a concern of this Investment holding company.
Question...can a non-oil company...be valued by the reserves it has?
We need to go real or go home.
I'm still here to see the outcome...but ,leaning towards a buy out .
I won't speculate on timelines(cause we have all been wrong there,lol except Midtier..lol)
I think NWTF character has been right regarding time lines.he didn't know either,just said things work slowly in the oil patch.
It's a world of it's own and we are so unprivy to it.
Acceptance is step 1
GLTUA
Baz
Red
IMHO
Just a thought.SNP is hooked up with Total in a big way globaly(especially from Total's perspective).Is it possible that Totals entrance into JDZ was engineered by SNP when their plan was established(lord knows when).Take out Addax,ERHE,small players,good-bye Chevy helo Total!.....Now what went right or wrong,with ERHE?.....events "SEEM" to be happening for some sort of reason.I really wish I could believe what our family elders are telling us,BUT IMHO,there is way too much secrecy going on here ....and then ....and then?
Baz
stocks2rise
Imagine these zones are at their thinnest the closer to the top,and, if the gas is sitting at the top of these zones, then it is quite possible to just hit gas at the highest and thinnest layers to the zones(as this is an anticline thrust up,thicker at the bottom and thinner at the top).
All IMHO
Baz
Troy
Nice one!
but that is a rather huge assumption from where our market cap is now...LOL
Lots of dots ...where's the official meat?
Lets hope for An Offorly good deal.
gltua
Baz
Krom:
the jist is bullish
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=55261401
Baz
Farrel
form 10 Q feb9 2010..shows 5,250,000.00 shares with an attached value of $4,803,750.00.
At that time the converion would have been $0.915 per share.
seems those shares and warrants together are now worth aprox $3,800,000. This is a substantial savings to Feltang with an entry point of on average $0.025 .
Feltang has the ability ,now, to maximize its's investment significantly(like anyone here with an average entry price of $0.25).
The stage is set..NSAI results ...Aim listing....Share price appreciation...Chinese Buy out of ERHE...soon to be here!.
IMHO...Sinopec will buy us out when our share price is where Offor's NOD is given.Sinopec will not want to carry anyone so they can inturn sell %'s to Total and have them as the technical operator of the JDZ.
All in the familly.....China....Swiss(french)....France.
SHOW!!!!....show starts in ********* minutes.
Got my Ly-chee flavored popcorn with a beaujelais chaser in hand,frollowed with some swiss chocolate.
Im ready for the curtain call.
Baz
P.S. it would be nice to not make this an 11 year investment...LOL
Umbra
I think it is the game GO (govertly).
Baz
Mid
I'm in as well with 250,000
Baz
sneak:
No one following this stock should be surprised at the over all ineptitude of STP govt.This spreads to all arms which includes the JDZ...and reflects poorly on Nigeria also in that area.
Confidence in dealing with STP must be questioned as well by potential investors now.
TOTAL has a huge edge here as they are very well developed and have built a solid partnership with China.( France does not criticize on human rights issues)
Oh Ya...STP is gumming up the JDZ waters AS USUAL!
Baz
EDIT: just read Spec's post and,it is a logical assumption
I just question STP's logic in the majority of it's moves
throughout the years...cheers Spec!
EHP:maybe they need Kaleidascope from HRT/Pertobas,who have been proving up nice quantities off Brazil.I really dont think it should take this long unless most of the delays are because of a backlog in analysis from NSAI etc....LOL...ya thats it PN can use this one if he needs it......WE were close to the bottom of the pile at NSAI offices.They are getting to us!
Baz
Ponzi/Mongo
Relax we understand how frustrating this has been for you after what close to 9-10 yrs?
Soon you will know if it was all worth it.
Most of us have held,sold,averaged down,been forced to sell at losses...you name it(accumulation?).
Good luck to you....Baz
tapco
So they wrote off monies for 3 locations....possibly 26.6 mil each?
Business has its costs and tax advantages as well.Since there is no revenue comming in for Block 4.....they can apply expenditures against taxable revenues.
Not sure what you mean here.We are still waiting on official news on going forward.I didn't see Dana Gas Selling their interest in Block 4 IMO (as yet...but they will want more than 26.6 milfor their 9.5% IMO if this were to happen).
It would be nice to see 2010 value for BLOCK 1. Hopefuly Total will reveal these numbers in their financials.
Good luck
Baz
Ponzi/Mongo
AND YOU have been here all this time, along with all us bagholders? LOL
I can only guess you never stopped accumulating,while flipping for lunch money.
Please Ponzi ....Look in the Mirror...LOL...we have all aged together here.
Bazil
Hi Oiljr
miss that laugh from PT.
we shoul remember these numbers are still prelim(1 well)....and if other discoveries show the way,then,we should likely double prelim numbers.HUGE after 1 well IMO as 20 wells ?....oh well ..long term...sheesh anothe 5-10 yrs...
I think long before that I will be thanking My tenacity for sticking this out as likely will be the case with most other longs.GLTUA
Baz
Krom
Condensates are treated extremely fairly tax wise etc.
No sense extolling the nature of the area and fields.
IMHO..SNP/Addax know that there are gaggles of golden geese in the JDZ...the trick is to get up early, pick the nests clean daily before anyone awakens and try to hide the metamorphis into pachyderms.
Let's hope OUR wait doesn't lead to extinction
Baz
Julius
Not bad 1.5 tril.cuft.biogenic gas was found across all blocks!
whether that was per block or total,is basically a bonus if usable.IMHO they wouldnt waste their time with this analysis for BIO gas only....but...Rather the Bio gas quantity was probably what surprised them...LOL. They gotta be analizing something worthwhile(IMHO in a large way) to take the time to construct all their fluid models and such.
Our problem is the waiting,starving,and possibly selling as a result of the fortyears we went through.
If one is to assume that all of our block percentages are worth 30 cents then,we are a bunch of BOZOS ...AND...I strongly believe WE are not.
Happy trails are comming
just dont ask me when
Baz
sneak:
CNOOC was the AKPO partner.this only matters to Newbees checking in...Most longies here know this as im sure yours was a slip of the thumb..
best to you sneak
Baz